The Tennessee Housing Development Agency (THDA) is offering the Great Choice Home Loan Program offering affordable mortgage financing for middle/moderate income. Every Great Choice Home Loan is a 30-year, fixed interest rate home loan. Here is some basic information on the Great Choice Home Loan:
30 Year Term
Your monthly payments are spread out across 30 years to keep payments affordable.
Minimum Credit Score
To qualify for the Great Choice Home Loan, the credit score of everyone on the loan application must be at least 640.
Maximum household income
Your total household income must be below the annual income limit. This limit varies by county and the number of people in your household.
Maximum purchase price
The maximum purchase price you can pay for the home and still qualify for the loan program also varies by county and is closely related to the income limits set for that county.
Down Payment Assistance
Everyone who qualifies for the Great Choice Home Loan Program also has the option for financial assistance with their down payment and/or closing costs.
For more information on the Great Choice Home Loan Program, you can contact me at 615-624-1436 or via email at Tiffany@mcrealtytn.com
NextHome Music City Realty
1804 Williamson Court #102
Brentwood, TN 37027